Entrepreneur In Training

Social Lending & Philanthropy

You’ll see a few badges in the right sidebar to Kiva, Prosper and Donors Choose. These each have a few things in common but also some key differences. First they all are about money. You giving it.

With Kiva you give it to some entrepreneur in what is usually a third world country. It is a microfinance site. I have made one loan here. I won’t get any interest back, but hopefully I’ll get my $25 back and lend it to someone else. It makes me feel good to help someone out and I hope that they find success.

Prosper is different. Here I expect to make interest. I haven’t made a loan yet but intend to. The loans are made to people that are looking for small business loans, to consolidate credit cards, bail their brother out of jail or to just get out of a bind. It takes banks out of the middle and in theory gives the borrower a lower interest rate and the lender a higher return than if the bank were involved. I’ll let you know how that goes.

Donors Choose is one I just discovered. I like this one because its helping students here in the US. It amazes me that in a country as resource rich as the United States that teachers need to fund projects for their classrooms out of their own pocket. That budget for low-income students who can’t afford supplies doesn’t exist. I can’t think of too many more places that I would rather help than with the next generation’s education.